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The Texas Lawbook

Free Speech, Due Process and Trial by Jury

  • Appellate
  • Bankruptcy
  • Commercial Litigation
  • Corp. Deal Tracker/M&A
  • GCs/Corp. Legal Depts.
  • Firm Management
  • White-Collar/Regulatory
  • Pro Bono/Public Service/D&I

CDT Roundup: Deal Volume Drops, But Big Moves Capture Spotlight

May 5, 2025 Allen Pusey

Last week, we saw a pretty light load reported: 11 deals for $4.25 billion. We’ll let you compare that to the 12 deals for $8.8 billion the week prior. Or even the 13 deals for $3.1 billion this time last year.

But that doesn’t mean it wasn’t an interesting week. We saw a major DFW brand, Sabre, make a $1.1 billion divestiture, a shipping logistics acquisition, a good-sized banking deal, funding for a social care navigation platform, the acquisition of a Mexico-based supply chain platform and a $400 million PE commitment to a new E&P with some familiar names attached.

But that’s not even the interesting part. A Texas-headquartered company announced its intent to explore and evaluate Greenland’s recently popular mineral and liquids deposits; a Singapore had Texas lawyers help it establish a blockchain investment fund and a Hong Kong SPAC with ties to the PRC announced an IPO.

Sometimes the numbers are just part of the story.

Have a deal we should include next week?

The CDT Roundup is a regular feature from The Texas Lawbook highlighting the work Texas dealmakers are doing inside and outside the state.

Please let us know at CDTRoundup@texaslawbook.net by sharing a news release or a short blurb containing the date of the deal, a brief description, a link to any public announcement, the lead lawyers and their offices, as well as any Texas lawyers who advised on the deal.

Weekly Corporate Deal Tracker Roundup Stats

A compilation of weekly stats from The Lawbook's CDT Weekly Roundup
(Deal Values in Millions)

Week Ending
Deal CountAmountFirmsLawyersM&A CountM&A Value $MCapM Count
CapM Value $M
24-May-202515$24,0331112113$23,6242$409
17-May-202516$21,7601214511$18,6155$3,145
10-May-202524$33,1751620619$30,7655$2,410
03-May-202511$4,249139011$2,226.52$2,022.5
26-Apr-202512$8,78791689$6,0113$2,776
19-Apr-202511$8,09771389$7,9852$112
12-Apr-202513$2,392815210$2,0653$327
05-Apr-202519$27,7621518816$25,4733$2,289
29-Mar-202521$8,1881025816$4,1255$4,064
22-Mar-202519$6,4851423115$4,1284$2,857
15-Mar-202513$13,7371315110$9,9324$3,805
8-Mar-20257$2,2345665$2242$2,100
1-Mar-202511$3,05087510$2,5501$500
24-Feb-2512$16,39771496$6,6356$9,862
17-Feb-2517$12,1361313410$9,4112$2,725
10-Feb-2514$7,15491799$4,9505$2,204
3-Feb-2516 $10,068720011$7,5535$2,515
25-Jan-2514$10,261101259$2,2075$8,054
18-Jan-2519$7,3821531612$2,3007$5,082
11-Jan-2521$33,5601618716$32,5215$1,039
4-Jan-259$6,8279809$6,82700
21-Dec-2411$2,79811928$2,2293$570
14-Dec-2415$5,3231218612$3,8123$1,511
07-Dec-2416$4,7661023111$2,32152,445
30-Nov-2410$10,29191034$8,2906$2.001
23-Nov-2415$4,5531515311$3,3794$1,174
16-Nov-2417$11,4881124513$10,1864$1,303
09-Nov-2414$2,1101213912$1,4102$700
02-Nov-2412 $52,788 1110711$52,7381$50
26-Oct-248$3,1608657$3,0651$75
19-Oct-2412$5,3041113611$4,5541$750
12-Oct-2417$8,4381215015$8,1162$322
05-Oct-2422$23,1811218915$19,9807$3,201
28-Sep-2411$2,35671447$534$2,303
21-Sep-2412$9,568101695$4,1017$5,467
14-Sep-2424$10,9881223516$7,1758$3,813
7-Sep-2412$20,4201616811$20,3071$112.9
31-Aug-2413$20,631913412$14,7751$5,856
24-Aug-2419$8,4522132516$7,1023$1,350
17-Aug-2425$49,1961630411$39,38614$9,810
10-Aug-2420$12,2641531216$9,7944$2,470
03-Aug-2426$16,4981633418$8,1378$8,361
27-Jul-2419$16,4422127115$13,8384$2,604
20-Jul-2415$16,0161418410$14,2325$1,784
13-Jul-2420$17,220 1426518$7,146 2$10,074
6-Jul-2411$3,941 11958$2,650 3$1,291
29-Jun-2414$6,296 152248$6,296 6$1,927
22-Jun-2412$5,679 81375$210 7$5,469
15-Jun-2413$9,895 1621410$5,280 3$4,615
8-Jun-2419$23,859 1323912$19,436 7$4,423
1-Jun-2412$34,510 111479$26,110 3$8,400
25-May-2413$9,684 1517110$4,434 3$5,250
18-May-2411$5,490 111738$3,129 3$2,361
11-May-2422$14,855 1422716$11,105 6$3,750
4-May-2413$3,139 98710$1,297 3$1,842
27-Apr-2410$6,684 62810$6,684 00
20-Apr-2419$15,989 111479$5,208 10$10,781
13-Apr-2413$8,952 97610$1,652 3$7,300
6-Apr-2423$26,616 1422214$13,501 8$13,116
30-Mar-2412$9,286 81368$4,299 4$4,987
23-Mar-2418$5,451 1726616$4,759 2$692
16-Mar-2421$11,437 1318614$9,316 6$2,070
9-Mar-2423$4,695 2121819$2,723 4$1,972
2-Mar-2420$9,108 1937214$4,558 6$4,550
24-Feb-2419$16,382 1224815$9,507 4$6,875
17-Feb-2416$29,932 1515712$29,216 4$716
10-Feb-2425$10,750 1719619$5,372 6$5,379
3-Feb-2412$8,416 181259$3,416 3$5,000
27-Jan-249$8,165 9878$7,815 1$800
20-Jan-2414$4,084 1210912$3,219 2$865
13-Jan-2417$33,588 1225612$26,765 5$6,823
6-Jan-248$7,915 8846$7,265 2$650
30-Dec-2317$14,599 129915$2,714 2$11,885
23-Dec-2323$4,182 1321916$1,813 7$2,370
16-Dec-2313$16,436 132807$15,150 5$1,286
9-Dec-2326$14,633.90 1724416$8,095 10$6,538.90
2-Dec-2313$6,720 95712$6,630 1$90
25-Nov-239$4,835 91316$1,785 3$3,050
18-Nov-2322$6,568.70 1718414$4,709.20 8$1,859.50
11-Nov-2315$9,825 1317912$6,581 3$3,244
4-Nov-2315$20,582.50 1419312$19,417.50 3$1,165
28-Oct-2318$68,419.10 1815215$66,646 3$1,773.10
21-Oct-2316$6,755.90 1616515$6,755.90 1$3
14-Oct-2314$67,851.20 131259$61,998.50 5$5,852.70
7-Oct-2317$6,595.50 1322816$5,995.50 1$600
30-Sep-2317$1,896.45 1318914$806.45 3$1,090
23-Sep-2323$6,432.70 1723016$1,402.80 7$5,029.90
16-Sep-2325$23,226.70 2335316$17,239 9$5,987.70
9-Sep-2312$6,369 81027$4,311 5$2,058
2-Sep-2314$2,522 69213$1,322 1$1,200
26-Aug-2317$12,160.25 1320215$6,573.25 2$5,587.00
19-Aug-2319$11,505 1321315$11,255 4$250
12-Aug-2319$9,698.80 131847$3,270 12$6,428.80
5-Aug-2313$5,201 1211812$5,051 1$150
29-Jul-2315$21,031.60 1319611$18,292.00 4$2,739.60
22-Jul-2318$3,992 1213013$2,808 5$1,184
15-Jul-2313$8,254.95 138113$8,254.95 00
8-Jul-2316$5,441.45 1217211$2,443 5$2,998.45
1-Jul-2316$6,872 1010512$5,474 4$1,398
24-Jun-2313$10,914 1620110$7,874 3$3,040
17-Jun-2317$5,880.70 1515115$4,705.70 2$1,175
10-Jun-2319$8,516.10 1311116$6,252.40 3$2,263.70
June 3 202312$6,104.42 121388$4,256.92 4$1,847.50
27-May-2317$12,200 106711$6,165 6$6,035
20-May-2311$22,458.10 81034$19,455 7$3,003
13-May-2312$7,034 101018$5,460 4$1,574
6-May-2320$3,297.60 1819617$2,985.60 3$312
29-Apr-2323$3,691.20 1813517$1,969.70 6$1,721.50
22-Apr-2316$5,570 1410414$4,750 2$1,000
15-Apr-2312$23,818.10 95910$21,618.10 2$2,200
8-Apr-2316$7,949 91739$5,472 7$3,477
1-Apr-2321$18,676.70 1217511$10,926.70 10$7,750
25-Mar-2315$8,779.50 101415$2,362 10$6,416.50
18-Mar-237$14,048.80 6695$13,345 2$703.80
11-Mar-2321$11,576 1616516$8,131 5$3,445
4-Mar-2320$9,668 1122816$8,209 4$1,459
25-Feb-2313$5,335 1313012$4,235 1$1,200
18-Feb-2314$5,743.70 131588$898.70 6$4,845
11-Feb-2316$12,088 1213712$9,965 4$2,123
4-Feb-2317$8,066 1514013$5,614 4$2,452
28-Jan-237$2,180 7755$1,692.75 2$488
21-Jan-2317$5,768 1617412$1,918 5$3,850
14-Jan-2311$2, 800101028$421 3$2,400
7-Jan-2318$8,296 1116714$6,461 3$1,835
31-Dec-2214$2,732 119912$2,092 2$640
17-Dec14$7,919 1311512$7,419 1$500
10-Dec-2214$10,093 128811$7,093 3$3,000
3-Dec-2226$12,800.90 1117220$4,141 6$8,659.90
26-Nov-228$2,266.70 853$76 5$2,190.70
19-Nov-2221$2,886 1521219$2,550 2$336
12-Nov-2213$15,093.70 9819$14,200 4$893.70
5-Nov-222519,337.201650922$8,267.20 3$11,070
29-Oct-2215$7,805.30 911614$7,180.30 1$625
22-Oct-2220$8,193.50 1325313$5,442 7$2,751.50
15-Oct-229$3,046.10 91397$2,588.30 2$457.80
8-Oct-2219$2,011.80 1211416$833.80 3$1,178
1-Oct-2223$5,532.90 1615618$4,952.30 5$580.60
24-Sep-2218$5,194 1421615$4,050 3$1,144
17-Sep-2221$8,352.30 1232015$4,759.60 6$3,592.70
10-Sep-2215$19,853.50 1012613$19,403.60 2$450
3-Sep-229$2,312 9629$2,312 00
27-Aug-2216$30,891.70 1013515$30,666.40 1227.7
20-Aug-2212$1,977 815299253$1,052
13-Aug-2218$8,004.70 1124211$2,844.70 7$5,160
6-Aug-2224$7,948.90 1224017$3,577 7$4,371.90
30-Jul-228$6,941 9787$6,839 1$102
23-Jul-2211$801 119210$801 10
16-Jul-2214$3,650 1012214$3,650 00
9-Jul-2210$3,557.70 7689$3,557.70 10
2-Jul-2218$8,609.40 1315215$2,754.40 3$5,855
25-Jun-2215$6,142 131469$2,017 6$4,125
18-Jun-2217$11,890.10 1422815$11,410 2479.7
11-Jun-2217$7,600 1212310$2,300 7$5,300
4-Jun-2212$2,937 101279$692 3$2,245
28-May-229$3,197.60 11869$3,197.60 00
21-May-2214$7,284.50 1218511$6,609 3$675.50
14-May-2211$306.60 98010$306.60 1$225
7-May-2216$10,451.75 1210812$1,827 4$8,624.75
30-Apr-2216$2,296.50 1615712$895.50 4$1,401
23-Apr-2210$2,241 11588$1,641 2$600
16-Apr-2211$6,643 71568$2,359 3$4,284
9-Apr-2217$4,429 1418411$1,690 6$2,739
2-Apr-2213$1,755 88410$1,145 3$610
26-Mar-2211$3,205 8656$200 5$3,005
19-Mar-2213$2,239.17 910613$2,239.17 00
12-Mar-2218$12,016 1123915$11,965 2$51.35
5-Mar-2217$6,786 1313713$5,161 4$1,625
26-Feb-2212$5,095 81499$4,437.50 3$658
19-Feb-2217$22,229 1717414$21,354 3$875
12-Feb-2212$2,344.70 10738$641.70 4$1,703
5-Feb-2211$2,503 89911$2,503 00
29-Jan-2211$3,872 1210112$3,872 00
22-Jan-2213$5,143.50 109912$4,842.50 1$301
15-Jan-2212$7,605 91559$6,480 3$1,025
8-Jan-2213$8,256.20 1110213$8,256.20 00
1-Jan-229$1,273.80 6509$1,273.80 00
25-Dec-2121$4,734.75 1117616$3,410 5$1,324.75
18-Dec-2126$7,325.20 1519318$3,640.20 8$3,685.20
11-Dec-2116$5,017 1010913$1,417 3$3,600
4-Dec-2114$2,310 8868$2,310 6$1,882.05
27-Nov-219$3.460.1101016$1,758 3$1,702.60
20-Nov-2120$22,792 1515712$18,864.50 8$3,928
13-Nov-2121$26,729 1217813$11,822 8$14,907
6-Nov-2112$8,303 1315710$6,682 3$1,621
30-Oct-2121$10,368 1521815$9,24.46$1,103.00
23-Oct-2121$18.783.11522211$12,314 10$6,468.60
16-Oct-2115$3,868 1111815$2,293 2$1,575
9-Oct-2120$8,610 1617516$7,795 4$815
2-Oct-2114$6,250 1113710$5,200 4$1,050
25-Sep-2111$11,460 9937$10,200 4$1,250
18-Sep-2111$16,603 8998$15,084 3$1,519
11-Sep-2117$10,653 1110313$8,503 4$2,150
4-Sep-2113$7,222 108911$6,715 2$507
28-Aug-2112$763 96311$663 1$100
21-Aug-2112$29,659 77911$29,579 1$80
14-Aug-2122$17,845 1119912$12,805 10$5,04
7-Aug-2117$13,670 1213915$11,766 2$1,904
31-Jul-2121$8,160 1113410$3,574 10$4,586
July 24,202121$6,367 1113915$3,712 6$2,655
17-Jul-2114$4,009 1112412$2,015 2$1,994
10-Jul-2116$3,997 1314311$1,597 4$2,4
3-Jul-2124$7,492 139416$3,769 8$3,722
26-Jun-2110$4,995 7858$3,847 2$1,148
19-Jun-2128$16,830 82289$1,861 19$14,968
12-Jun-2126$27,238 1520919$25,602 7$1,636
5-Jun-2115$15,539 1310013$14,709 2$600
29-May-2135$20,279 1114528$18,647$1,639
22-May-2124$53,208 1417417$51,047 7$2,161
15-May-2118$10,620 1322011$5,870 7$4,809
8-May-2117$10,400 1115615$8,386 2$2,500
1-May-2121$7,200 1611512$3,808 9$3,392
24-Apr-218$20,200 9318$20,200 00
17-Apr-2114$6,270 810211$40,180 3$2,260
10-Apr-2115$8,940 1312914$7,990 1$950
3-Apr-2118$19,513 1015112$16,923 6$2,590
27-Mar-2127$13,942 1524414$4,300 13$9,633.50
20-Mar-2111$2,046 41023$270 8$1,776
13-Mar-2115$3,270 91096$538 9$2,732
6-Mar-2124$13,617 1019613$10,395 11$3,222
27-Feb-2119$8,105 1213915$4,970 4$3,135
20-Feb-219$8,820 91538$8,520 1$300
13-Feb-2112$4,852.60 78172,7665$2,086.60
6-Feb-2118$9,752 1315314$5,222 4$4,530
30-Jan-2118$9,449 918215$8,753.80 3$695.30
23-Jan-2114$8,150 81186$4,000 8$4,150
16-Jan-2117$6,783 1313811$2,400 6$4,382.90
9-Jan-2122$6,829 1413518$3,139.30 4$3,690
2-Jan-217$1,466 7607$1,466 00
26-Dec-2018$15,900 1216316$5,300 1$600
19-Dec-2018$9,769 1411014$8,426 4$1,343
12-Dec-2010$7,200 91009$3,325 1$3,830
5-Dec-2015$4,261 91229$2,780 6$1,481
28-Nov-2019$7,758 1011013$4,003 6$3,755
14-Nov-2014$864.10 1415712$289.10 2$575
7-Nov-2013$6,332 91299$2,483.50 4$3,849
31-Oct-2010$3,995.80 81036$3,231.10 4$754.70
24-Oct-206$18,100 6585$17,709 1$350
17-Oct-208$351.90 5558$351.90 00
10-Oct-207$5,229 3504$735 3$4,494
3-Oct-2014$21,428 91739$17,535 5$3,893
26-Sep-2010$12,770 8935$10,300 5$2,470
19-Sep-2014$8,365 91016$1,020 8$7,345
12-Sep-206$4,406 8593$1,270 3$3,136
5-Sep-2011$5,191 81179$4,061 2$1,130
29-Aug-2011$2,531 9945$1,130 6$1,401
22-Aug-2018$6,574 121407$1,930 11$4,644
15-Aug-2013$4,991 10977$1,216 6$3,775
8-Aug-2012$32,092 111129$30,457 3$1,635
1-Aug-207$5,287 8765$3,687 2$1,600
25-Jul-209$18,751 6677$18,403 2$348
18-Jul-206$1,982.50 5504$1,407.50 2$575
11-Jul-2011$565.10 127510$65.10 1$500
4-Jul-2010$8,889 8989$8,788 1$100.30
27-Jun-208$6,874 10505$4,972.50 3$2,081.50
20-Jun-2012$4,444 91157$2,829 5$1,615
13-Jun-206$3,582 4372$350 4$3,232
6-Jun-2011$3,213.70 8657$470 4$2,743.70
30-May-208$7,335 7486$4,639 2$2,697
23-May-204$432.40 4343$432.40 10
16-May-206$310 6345$310 10
9-May-2018$5,630 1612414$3,180 4$2,450
2-May-201510,40010908$1,900 7$,8,500
25-Apr-208$3,400 9365$1,000 3$2,450
18-Apr-2019$9,500 14928$185.70 11$9,360
11-Apr-2012$6,000 9405$190 7$5,800
4-Apr-2014$8,200 116810$2,200 4$6,000
28-Mar-2016$6,500 139610$3,700 6$2,800
21-Mar-2011$11,910 7337$2,250 4$9,960
14-Mar-207809.86346684.81125
7-Mar-2016$2,500 157013$669 3$1,400
29-Feb-2013$15,260 1312811$11,760 2$3,500
22-Feb-2012$3,700 109210$2,560 2$1,130
15-Feb-2016$1,250 108412$35 4$1,222
8-Feb-2018$6,080 1412314$2,595 4$3,485
1-Feb-2021$20,900 1210114$17,860 7$3,060
25-Jan-2013$7,430 136212$6,430 1$1,000
18-Jan-2023$9,580 1512019$6,580 4$3,000
11-Jan-2021$14,200 1819916$1,020 5$13,200
4-Jan-2022$6,400 1111916$3,204 6$3,245
28-Dec-1922$7,150 1917518$6,800 4$327.40
14-Dec-1924$36,300 2316719$9,500 5$26,800
7-Dec-1911$10,400 11557$1,082 4$9,370
November 30. 201914$2,450 1212612$1,760 2$692.50
23-Nov-1916$1,995 104111$615 5$1,380
16-Nov-1915$3,820 1313511$2,500 4$1,271
9-Nov-1925$12,900 1718223$12,200 2$575
2-Nov-1910$2,470 126192,4503$22
26-Oct-1912$5,560 147011$3,860 1$1,700
19-Oct-198$6,600 81388$6,600 00
12-Oct-1919$4,300 145516$3,800 3$500
5-Oct-1918$14,500 1916615$11,100 3$3,400
28-Sep-1919$8,100 1813218$7,560 1$550
21-Sep-1914$6,300 166611$2,160 3$4,170
14-Sep-1915$23,800 125611$21,250 4$2,570
7-Sep-1917$3,500 159814$1,900 3$1,600
31-Aug-195$8,700 6505$8,700 00
24-Aug-1916$10,000 148215$4,250 1$5,750
16-Aug-1910$1,680 5527$650 3$950
9-Aug-1917$17,700 156814$3,900 3$13,800
2-Aug-1913$5,760 1210813$5,760 NANA
27-Jul-1911$7,300 13768$6,570 3$730
20-Jul-1913$11,800 1312511$5,300 2$6,500
13-Jul-1910$775 7468$542.50 2$233
6-Jul-197$2,500 9857$2,500 00
29-Jun-1923$8,290 1515417$2,300 6$5,970
22-Jun-1917$10,700 1013914$7,700 3$3,000
15-Jun-1911$13,500 1416011$13,500 NANA
8-Jun-1913$2,870 175511$1,570 2$1,300
1-Jun-1910$4,460 11608$4,140 2$315
25-May-1917$4,360 147914$3,700 3$612
18-May-1922$9,000 1715016$3,400 6$5,600
11-May-1918$19,800 1717715$18,300 3$1,500
4-May-1910$7,075 6328$6,900 2$175
27-Apr-1915$3,200 1411714$3,160 1$40
20-Apr-1913$13,500 10909$12,200 4$1,300
13-Apr-1916$38,900 149114$37,800 2$1,100
6-Apr-1912$6,870 119410$6,730 2$50
30-Mar-1915$6,470 128410$7,91.55$5,677
23-Mar-1918$6,450 149114$5,042 4$1,408
16-Mar-1914$10,180 1211511$8,800 3$1,300
9-Mar-199$1,800 6498$1,300 1$500
2-Mar-1920$3,033 1610714$1,817 6$1,262
23-Feb-1912$2,040 8699$614.60 3$1,430
16-Feb-1916$9,970 187716$9,970 00
9-Feb-1914$6,400 1011014$6,400 00
2-Feb-1918$6,740 159916$5,720 2$950
26-Jan-1913$2,770 116711$918.95 2$1,850
19-Jan-1915$3,819 167612$2,594 3$1,225
12-Jan-1918$7,283 149215$1,683 3$5,600
5-Jan-1910$529 125010$529 00
22-Dec-1817$2,570 138714$941 3$1,629
15-Dec-1810$2,860 8268$264 2$2,600
8-Dec-1815$1,819 166512$552 3$1,267
1-Dec-1812$7,500 10909$1,200 3$6,200
28-Nov-1815$4,500 1110714$4,000 1$500
19-Nov-1818$6,137 139813$2,142 5$3,995
14-Nov-1818$9,200 1315215$8,500 3$694
6-Nov-1816$17,300 1618314$16,361 2$950
29-Oct-1814$14,400 1812717$13,800 1$600
24-Oct-1813$6,140 1312611$5,122 2$1,018
17-Oct-1818$18,390 1512514$12,292 4$6,098
10-Oct-1829$3,149 1810420$1,647 9$819
2-Oct-1818$9,300 116714$7,300 4$2,000
25-Sep-1813$7,000 117510$6,000 3$995
18-Sep-189$3,570 7449$3,570 00
11-Sep-1813$5,900 1013213$5,900 00
7-Sep-1814$5,000 158611$4,000 3$1,000
29-Aug-1815$20,700 147913$4,700 2$16,000
20-Aug-1810$12,400 11538$11,380 3$1,057
14-Aug-1812$19,900 121329$18,889 3$1,011
7-Aug-1816$68,600 1110613$67,259 3$1,340
31-Jul-1815$15,100 159511$13,060 4$2,060
23-Jul-1813$2,130 156010$1,804 3$1,100
17-Jul-1814$5,370 17989$4,310 5$1,100
9-Jul-1816$11,200 157410$11,080 6$862
3-Jul-1813$7,000 78112$6,330 1$750
25-Jun-1815$8,800 13979$4,970 6$3,930
18-Jun-1813$14,200 14807$221 6$14,290
11-Jun-1812$6,300 8968$5,910 4$803
6-Jun-1813$14,500 10888$14,154 5$579
31-May-1811$4,890 10638$3,240 3$1,790
22-May-1815$20,400 11639$19,808 6$885
15-May-1815$4,700 1510610$3,900 5$643
9-May-1811$1,400 13889$1,300 2$560
1-May-188$14,250 7887$13,400 1$450
24-Apr-1812$5,300 66111$4,470 1$800
17-Apr-189$1,800 10447$2,330 2$1,434
11-Apr-1811$2,500 8326$1,690 5$809
3-Apr-1815$13,400 111219$12,020 6$1,090
28-Mar-1810$4,000 10927$3,870 3$215
19-Mar-1817$5,800 135110$590 7$5,165
12-Mar-1815$3,130 114311$2,360 4$788
6-Mar-1819$5,400 1311610$1,530 9$4,860
27-Feb-1820$6,600 136914$5,530 6$1,030
19-Feb-1815$5,500 1411110$3,990 6$1,980
12-Feb-1823$10,900 1715712$7,110 11$3,840
5-Feb-1816$8,600 131007$1,330 9$7,800
30-Jan-1811$12,600 11685$7,300 6$4,982
24-Jan-1819$9,400 151295$2,010 14$7,337
18-Jan-1810$6,280 8492$2,100 8$4,188
9-Jan-1812$16,500 12929$15,890 3$475
3-Jan-1810$2,500 9478$2,350 2$150
27-Dec-1715$9,000 151139$7,568 6$1,784
18-Dec-1715$13,800 161649$13,010 7$1,118
11-Dec-1714$9,700 1012612$2,940 4$8,500
4-Dec-176$1,800 6315$1,510 1$300
28-Nov-177$3,850 8764$3,260 3$285
16-Nov-1710$2,700 10486$1,840 4$856
8-Nov-1715$2,380 179110$1,860 5$516
1-Nov-1712$4,700 17949$3,400 4$1,300
23-Oct-1715$10,500 106710$9,780 4$1,530
18-Oct-176$2,000 373$225 3$1,820
10-Oct-1712$6,570 1009$3,880 3$3,360
2-Oct-178$3,100 11193$1,630 5$1,750
25-Sep-178$4,880 8795$2,660 5$2,070
18-Sep-179$4,770 3$300 6$4,470
12-Sep-1711$4,430 8$2,030 3$2,400
1-Sep-174$1,310 3$317 1$1,000
23-Aug-1711$13,640 98$11,840 3$1,800

M&A/Funding

TPG to Acquire Sabre Subsidiary for $1.1B

Deal Description: DFW-based travel reservations pioneer Sabre Corporation announced April 28 that it has agreed to divest its SaaS platform Sabre Hospitality Solutions business to TPG for $1.1 billion. The all-cash transaction establishes Hospitality Solutions as a standalone business, much as Sabre itself was established in 2000 as a standalone business by American Airlines, which founded the company in 1960.According to Sabre, Hospitality Solutions provides registration and guest software for more than 40 percent of the world’s major global hotel brands. Based in Southlake, intends to use cash proceeds from the sale to reduce debt and focus on its core businesses, including its B2B distribution business, which the company described as a “strategic area of investment” for Sabre. Sabre says it will continue to provide some services to Hospitality Solutions even after the expected closing of the transaction in Q3 2025. For more details see our daily coverage here.

In-House Legal Counsel: Rochelle Boas, Chief Legal Officer (Southlake)

Sabre Outside Legal Counsel: Haynes Boone

Haynes Boone Lead Lawyers: Dan Malone (New York) and Joshua Reisman (New York)

Texas Lawyers:  Ryan Ward (Dallas), Ethan Moore (Dallas), Susan Wetzel (Dallas) and Scott Thompson (Dallas), Isabella Blanes (Dallas), Raquel Alvarenga (Dallas), Sean Lewis (Dallas), Gavin George (Dallas),  Mallika Dargan (Dallas), Paul Amiel (Dallas), Logan Weissler (Dallas),  Alexandria Pencsak (Dallas)

Elsewhere:  Don Shiman (New York),  Annie Lawson (Denver) and Mac Henry (Charlotte)

Sabre Financial Advisor: Evercore

TPG Financial Advisors: William Blair

TPG Outside Legal Counsel: Davis Polk & Wardwell

South Wind E&P gains $400M Kayne Anderson equity commitment

Deal Description: On April 29, the newly formed South Wind Exploration & Production announced a $400 million equity commitment from Kayne Anderson’s Kayne Private Energy Income Fund III. Based in Oklahoma City, South Wind intends to acquire oil and gas assets along the Gulf Coast, particularly in the Mississippi shallow Wilcox trend. The Kayne fund is managed jointly by Kayne Anderson Capital Advisors and members of the South Wind management — including co-CEO Greg Boxer, a Goldman Sachs alum and former CFO of Flywheel Energy, a Kayne Anderson portfolio company from 2017 to 2024. Kayne Anderson is based in Los Angeles and major offices in Houston and Dallas.

Kayne Fund Outside Legal Counsel: O’Melveny

O’Melveny Lead Lawyers: Jibin Luke (Houston) and Steven Torello (Houston)

Texas Lawyers: Will Becker Silvia Smith (Houston) and Eleanor Dunn (Dallas)

Elsewhere: Warren Fox (San Francisco)

Repsol decides to partner with Stonepeak on renewables for $340M

Deal Description: Repsol, the Madrid-based O&G producer, announced April 29 that Stonepeak has agreed to invest $340 million to acquire a 46.3 percent stake in its portfolio of U.S. renewable assets. The portfolio includes the Frye solar project in Swisher County, Texas, and the Jicarilla solar and storage complex in Rio Arriba County, New Mexico. Together the projects are rated at 777 MW and hold long-term revenue contracts. The deal, which is expected to close in the third quarter of 2025, values the joint venture at $795 million, including $60 million in tax equity already raised.

Repsol Outside Legal Advisors: Latham & Watkins

Latham Lead Lawyers: Justin Stolte (Houston) and Edmond Parhami (New York)

Texas Lawyers: Jameson Miller (Houston), Justin Reinking (Houston), Brock Jones (Houston), Carlos Diaz (Houston)

Elsewhere: Matt De Bernardo (Washington, D.C.), Peter Todaro (Washington, D.C.), Eli Katz (New York), Scott Cockerham (Washington, D.C.), Jacob Nagelberg (New York), Tyler Brown (Washington, D.C.), James Blackburn (Washington, D.C.), Jason Cruise (Washington, D.C.), Les Carnegie (Washington, D.C.), José María Jiménez-Laiglesia (Madrid), Carlos Betoret (Madrid), Sara Castiglia (Washington, D.C.), Cameron Lyons (New York), Tianyu Wang (New York), Miles Primason (New York), and Henry Miller (New York)

Stonepeak Outside Legal Counsel: Vinson & Elkins

V&E Lead Lawyers: Matt Falcone (Houston) and Jordan Fossee (Houston)

Texas lawyers: Rob Vezina (Houston), Mimi Nguyen (Houston), Brian Park  (Houston), David Peck (Dallas), Zach Banks (Houston), Hal Taylor (Austin), Winston Skinner (Austin), Jeff Crough (Dallas), Craig Zieminski  (Dallas)

Elsewhere: Lauren Collins  (Los Angeles), Aaron Prince (New York), Eamon Nolan (New York), Evan Miller (Washington, D.C.), Corinne Snow (Washington, D.C.), Jeffrey Jakubiak (New York), Brian Howard (Washington, D.C.)

Repsol Financial Advisor: Nomura Greentech

Stonepeak Financial Advisor: Greenhill & Co, a Mizuho affiliate

Allied Industrial Partners closes $300M fund

Deal Description: Allied Industrial Partners, a Houston-based lower-middle market PE, announced April 28 the close of its $300 million debut fund: Allied Industrial Partner 1-A and 1-B LP. The fund, with an initial target of $250 million, was oversubscribed. AIP said in its announcement that more than 10 percent of the fund was committed by the firm’s senior management team. To date the company includes seven platforms involved in a variety of specialty investments in waste management, logistics and components manufacturing. The firm was founded in 2019 by Bradford Rossi and Philip Wright.

Allied Industrial Outside Legal Counsel: Kirkland & Ellis

Kirkland Lead Lawyers: Matt Nadworny (Houston) and Nathan Andrew Wolcott (Houston)

Elsewhere: Linda Dahl (New York)

Placement Agents: Houlihan Lokey

Cadence Bank expands in Texas with $60M acquisition of Industry Bancshares

Deal Description: Candence Bank announced April 25 its plan to acquire Texas-based Industry Bancshares, the holding company for Bank of Brenham, Citizens State Bank, Fayetteville Bank, Industry State Bank, The First National Bank of Bellville and The First National Bank of Shiner. The acquisition, expected to cost $20 million to $60 million, adds 27 full-service locations across Central and Southeast Texas along with $4.4 billion total assets, loans of $1.1 billion and total deposits of $4.5 billion. Based in Tupelo, Mississippi, Cadence already has a substantial presence in metropolitan centers across Texas, including a companion headquarters in Houston.

Cadence Bank Outside Legal Counsel: Sullivan & Cromwell

Industry Bank Outside Legal Counsel: Alston & Bird

Alston & Bird Lead Lawyers: J.P. Mahoney (Dallas) and Sanford Brown (Dallas)

Cadence Financial Advisors: UBS Investment Bank

Industry Financial Advisors: Hovde Group

Blooming Health nabs $26M in Series A Funding

Deal Description: Insight Partners led a $26 million Series A funding round for Blooming Health, an AI-powered social care technology platform that helps community organizations identify more efficiently the needs of their clients and the resources to respond to them. Insight, a global software investor based in New York, was joined in the funding round by existing investors Afore Capital, Crossbeam Venture Partners and Metrodora Ventures. The round brings total investment in the Bloomington, Indiana, venture to $32.5 million and the substantial funding increase is intended to accelerate its automation of social care outreach. Blooming Health claims to have connected 1.5 million people across 22 states with such forms of support as food, transportation to medical appointments or housing assistance.

Insight General Counsel: John Weinstein (New York) and Taylor Thompson (New York)

Insight Partners Outside Legal Counsel: Willkie Farr & Gallagher

Willkie Lead Lawyers: Matthew Haddad (New York) and Joe Laurel (Houston)

March GL to partner on Greenland exploration

Deal Description: Texas-based March GL and Mile 80 plc announced an agreement April 28 to explore and produce oil & gas in the potentially bountiful Jameson Basin in Greenland. Under the performance-based investment, March GL will fully fund two exploratory drillings to assess the potential of what 80 Mile managing director Eric Sondergard calls, “one of the largest undrilled onshore basins of its kind,” an assessment based on data gathered more than 40 years ago by ARCO (Atlantic Richfield Company). The project aims at determining the presence of hydrogen, helium and other industrial gases, as well as the potential for thermal energy. After the first exploratory drilling, March GL will be eligible to receive a 50 percent stake in either White Flame, an 80 Mile plc subsidiary or in Jameson Concession, along with an option to fund the second drilling. If completed during a specific time framework, would yield another 20 percent interest in either. Upon finalization of the agreement, March GL has agreed to pay Mile 80 a cash stipend of $500,000.

March GL Outside Legal Counsel: Haynes Boone

Haynes Boone Lead Lawyers: Matt Frye (Dallas) and Logan Weissler (Dallas)

March GL Incorporation Counsel: Frye, Brad Foster (Dallas), Greg Samuel (Dallas), Susan Wetzel (Dallas)

Argano acquires digital supply chain platform

Deal Description: Plano-based business consultants Argano announced May 1, an agreement to acquire Netlogistik, a digital supply chain platform. Headquartered in Mexico City, Netlogistik will continue to operate under the Netlogistik brand during the transition period and will be led by its existing management team. The acquisition Argano’s 16th since its formation from the acquisition and merger of three companies (Keste, interRel Consulting and United Virtualities) by Trinity Hunt Partners in 2021, in partnership with Chip Register, the former co-CEO of Publicis Sapient. Said Register of the Netlogistik acquisition: “Netlogistik represents everything we look for in a strategic acquisition — deep domain expertise, strong client relationships, a great culture and people experience, and a proven ability to drive operational performance.” Terms of the agreement were not disclosed.

Argano In-House Counsel: Elizabeth Frederic, general counsel (Dallas)

Argano Outside Legal Counsel: Kirkland & Ellis

Kirkland Lead Lawyers: Thomas Laughlin (Dallas) and Jordan Rex (Dallas)

Texas Lawyers: Sara Walden (Dallas), Braxton Iden (Dallas), David Wheat (Dallas), Jon B. Nelsen (Austin)

Mantle Guard announces blockchain investment fund

Deal Description: Mantle Guard Limited, a blockchain management and services company based in Singapore, announced April 24 the launch of Mantle Index Four Fund, a tokenized investment fund that is aimed to allow public investment in crypto products within a traditional investment format. According to the announcement “MI4’s tokenized interests can be transferred on the Mantle Network between authorized participants in accordance with applicable private placement laws unlocking certain crypto-native advantages.” Mantle says it is committing up to $400 million as an anchor investment in the fund. The company says it has chosen Securitize, a tokenization firm in which BlackRock invested $47 million this time last year. Securitize is listed as the primary vendor in a Form D notice of exempt offering of securities filed by Weisheng Chen, a Singapore resident identified as director of the GP and manager of Index Four L.P., the apparent general partner of MI4.

Mantle Guard Outside Legal Counsel: Latham & Watkins

Latham Lead Lawyer: Ivana Rouse (Houston)

Texas Lawyers: Chandler Johnson (Houston), Mackenzie Caldwell (Houston)

Elsewhere: Aaron Gilbride (Washington, D.C.), Paul Dudek (Washington, D.C.) Haley Hohensee (Washington, D.C.), Clare Scott (London), Jenny Cieplak (New York) Gregory Hannibal (New York)

Capital Markets/Credit

Kinder Morgan in $1.850 debt issue       

Deal Description: On May 1, Kinder Morgan, the Houston midstream company offered $1.85 billion in two notes issues — one of $1.1 billion of 5.150 percent notes due 2030, and another of $750 million in 5.850 percent notes due 2035.

Kinder Morgan In-House Counsel: Katherine Callaway James, general counsel (Houston)

Kinder Morgan Outside Legal Counsel: Bracewell

Bracewell Lead Lawyers: Troy Harder (Houston) and Will Anderson (Houston)

Texas Lawyers: J. Dean Hinderliter (Dallas), Caroline E. Ellis (Houston), Ben Meredith (Houston) and Sydney Kate Watkins (Houston)

Underwriters Outside Legal Counsel: A& O Shearman

A&O Shearman Lead Lawyers: Taylor Landry (Houston) and Bill Nelson (Houston)

Texas Lawyers: John Menke (Houston), Daniel Kim (Houston), Justin Higdon (Houston) and  Mallory Tosch Hoggatt (Houston) 

Elsewhere: Larry Crouch (New York), Jennifer Morton (New York), Jason Pratt (New York), Kuang Chiang (Washington D.C.), Taylor Pugliese (New York), Andrew Meiser (New York) and Joshua Kim (New York)

Hong Kong SPAC closes IPO with $172.5M

Deal Description: Copley Acquisition Corp., a blank check company based in Hong Kong with ties to the Peoples Republic of China, announced the close of its IPO on the NYSE May 1, with gross proceeds of $172.5 million. The company is backed by three Chinese/Hong Kong firms: Pacific Aegis Capital Management, Hermitage Capital and Gobi Partners. The company says it plans to seek for merger partners in the technology and lifestyles sectors.

Copley Legal Counsel: Winston & Strawn and DLA Piper

Winston Lead Lawyers: Michael Blankenship (Houston)

Texas Lawyers: Ben Smolij (Houston), Jon Bodle (Houston)

Elsewhere: David Sakowitz (New York), Justin Trapp (Chicago), Del Efimov (Chicago), Jenna Smith (New York), Jacob Tabman (New York)

Book-Running Manager: Clear Street

Clear Street Legal Counsel: DLA Piper

Late Arrivals and Other Matters …

ExxonMobil announced April 28 an agreement with Calpine Corporation to store up to transport and permanently store as much as two million metric tons of carbon dioxide (CO2) per year from Calpine’s natural gas cogeneration facility near Houston. It is the seventh such carbon capture and sequestration (CCS) agreement announced by ExxonMobil. Located in Houston, Calpine is the largest generator of electricity from natural gas in the U.S. ExxonMobil was advised on the deal by Clifford Chance Houston partner Jonathan Castelan along with Sam Bentley, Hillary Healey and Todd Lowther.

On April 4, New Wave, a Brazilian company focused on developing sustainable mining technologies, announced its close of a $120 million fund raise, which included an $80 million equity investment by Orion Resource Partners. Sidley Austin partner Tim Chandler (Houston) and counsel Eduardo Marquez Certucha (Houston) advised Orion on the deal.

Venture Global LNG, Inc. last week announced that that its subsidiary, Venture Global CP2 LNG, has secured a $3 billion bank loan facility to support the development and construction of its natural gas liquefaction and export facility to be located alongside the Calcasieu Ship Channel in Cameron Parish, Louisiana. Tax partner Jim Cole (Houston) was part of a Latham & Watkins team that advised Venture Global on the loan.

Last week, Archrock closed its previously announced $357 million acquisition of Natural Gas Compression Systems Inc. Latham & Watkins partners Ryan Maierson (Houston) and Nick Dhesi (Houston) led that deal.

Allen Pusey

Allen Pusey is a senior editor and writer at The Texas Lawbook.

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